"Unwavering in matters of principle,
indefatigable in her intellectual energy, and passionate in
her commitment to the Bank's values and goals," said World
Bank president James Wolfensohn of Jessica Einhorn in May 1998
when she stood down as managing director for finance and
resource mobilisation.

In her career at the World Bank, where she was the first female
managing director, Einhorn played a key role in the world's first
swap associated with a new bond issue, as well as in the
development of the global bond and in the furthering of
understanding of derivatives. Joining the Bank in 1980 with a
Fulbright scholarship, a PhD from Princeton, and after a spell at
the US Treasury and State Department, Einhorn ran the Bank's
borrowing programme for a number of years before succeeding Dan
Roth as treasurer in early 1992. The World Bank had usually
replaced treasurers from outside the organisation. But Einhorn has
chalked up several firsts, recently becoming the first graduate of
the School of Advanced International Studies at the John Hopkins
University to return there as dean.